Grand Avenue JPA
Project Area (Location): BH
South side of First Street between Grand Avenue and Hill Street;
West side of Grand Avenue between Second and Third Streets
Project Description: The Grand Avenue mixed-use project will be built in 3 phases under the direction of the Grand Avenue Joint Powers Authority (JPA), using two CRA/LA-owned parcels (L & M-2) and two Los Angeles County-owned parcels (Q & W-2). Phase I, on County-owned Parcel Q, is slated to begin in October 2007 and will consist of approximately 284,000 s.f. of retail space, a 275-room 5-star Mandarin Oriental Hotel, 1,510 subterranean parking spaces, 500 residential units including 100 affordable rental units, and a $50 million renovation and expansion of the existing County Mall into a 16-acre Civic Park. Subject to the exercise of certain development options, subsequent phases will include additional retail (approx. 165,000 s.f.), up to 3,745 parking spaces, up to 2,160 housing units including 20% affordable, and possibly a 681,000 s.f. office building.
Developer: The Related Companies (dba Grand Avenue L.A.)
Status: Schematic drawings approved; formation of Grand Avenue Workforce Development Advisory Committee.
Next Quarterly Milestone: Review Design Development documents; Agency approval of Preliminary Landscape Plans and Arts Plan.
Agency Assistance: $24.4 m
Total Development Costs:
Phase I: $850 m / All Phases: $2.05 b
Community Benefits: Affordable housing; permanent supportive housing revolving loan fund; local hiring; joint developer and Agency funded job training program; public open space; the Civic Park; public art; sustainable development goals.
Estimated Jobs to be Generated:
Phase I: 3,025 direct construction / 1,800 direct permanent
All Phases (direct and indirect): 29,000 construction / 5,900 permanent
